Seeing a financial advisor

Fantomas9mm

Hey Folks.

So i have some savings lying in a deposit account in the bank. Its not gaining much interest and i feel i could be doing more with my money.

I was just wondering if i should make an appointment with some sort of financial advisor, lay it all on the line with them in terms of what i have and seek some sort of professional direction.

Is this the sensible thing to do ?

If so, can anybody recommend anybody (ideally Dublin City centre) that might be good to speak with, at least for an initial consultation.

If anybody has any other good resources/books in terms of how to get the most from your money then all recommendations are appreciated .

This lad has a decentish book download for €6.99

https://www.gillenmarkets.com/

When you say you feel you could be doing more with your money do you say that accepting that to do (much) more there is risk?
How long could you potentially invest the money?
How much of it could you stomach losing over the next year or two?

If risk free is your preference the following isn't great but it's not too bad, 5% after 5 years tax free.
http://www.statesavings.ie/products/Pages/SavingsCertificates.aspx
16% tax free after 10 years...
http://www.statesavings.ie/products/Pages/NationalSolidarityBond.aspx

With more risky options there are positives such as personal exemption of €1,270/annum on share profits.

Stockmarket isn't as risky as many think either, the 2007 to 2009 crash saw the S&P 500 lose over half it's value but it was back to previous peak by 2013 and is now up another 60%. But than there is tax on that so even the seemingly unattractive 16% risk free after tax off An Post in 10 years time doesn't look too bad, all considered

I can't recommend anyone in Dublin but I met this couple at a conference a few months back and they seemed decent & knowledgable
http://ambit.ie/about-ambit-financial-services/

bmwguy

You have 2 options as I see it. Go to a stockbroker who will recommend individual stocks or a portfolio of stocks or else invest in a managed fund that advisors from the banks/insurance companies sell. I went the managed fund route myself as I wanted diversification and its doing well (about 6/7% a year I think?).

My pension is in it and a 10 year savings plan I am doing for expenses in the future (education costs etc...) is invested in the same fund its managed by HSBC.

I am happy for a little bit of up and down but its been all up so far

bmwguy

bmwguy wrote: »

You have 2 options as I see it. Go to a stockbroker who will recommend individual stocks or a portfolio of stocks or else invest in a managed fund that advisors from the banks/insurance companies sell. I went the managed fund route myself as I wanted diversification and its doing well (about 6/7% a year I think?).

My pension is in it and a 10 year savings plan I am doing for expenses in the future (education costs etc...) is invested in the same fund its managed by HSBC.

I am happy for a little bit of up and down but its been all up so far

Option 3, open an account and put some in S&P500, some in FTSE100 and some in euro stocks non leveraged ETFs.

Managed funds won't better the markets longterm and the fees are ridiculous.

topper_harley2

Option 1: have you read the other 800 threads that ask literally this same question, such as

http://www.boards.ie/vbulletin/showthread.php?p=103938250
http://www.boards.ie/vbulletin/showthread.php?p=103267454
http://www.boards.ie/vbulletin/showthread.php?t=2057719381
http://www.boards.ie/vbulletin/showthread.php?p=95975176
http://www.boards.ie/vbulletin/showthread.php?p=90253688
http://www.boards.ie/vbulletin/showthread.php?p=98214738
http://www.boards.ie/vbulletin/showthread.php?p=102965097

Do not waste your time buying and E6.99 book until you read this forum cover to cover. Use the search function for threads that are the same as this.

You give zero information on your overall financial situation so no meaningful advice can be given.

The J Stands for Jay

topper_harley2 wrote: »

Option 1: have you read the other 800 threads that ask literally this same question, such as

http://www.boards.ie/vbulletin/showthread.php?p=103938250
http://www.boards.ie/vbulletin/showthread.php?p=103267454
http://www.boards.ie/vbulletin/showthread.php?t=2057719381
http://www.boards.ie/vbulletin/showthread.php?p=95975176
http://www.boards.ie/vbulletin/showthread.php?p=90253688
http://www.boards.ie/vbulletin/showthread.php?p=98214738
http://www.boards.ie/vbulletin/showthread.php?p=102965097

Do not waste your time buying and E6.99 book until you read this forum cover to cover. Use the search function for threads that are the same as this.

You give zero information on your overall financial situation so no meaningful advice can be given.

I borrowed that book from the library recently. It's not great. Loads of build up, no mention of tax, and then a little 'system' for playing in the FTSE. The short story in it would be worth your while reading though.

McGaggs

McGaggs wrote: »

I borrowed that book from the library recently. It's not great. Loads of build up, no mention of tax, and then a little 'system' for playing in the FTSE. The short story in it would be worth your while reading though.

Apologies, I thought it was the 3 steps to investment success.... the one I actually linked to is as you say.

Geuze

Fantomas9mm wrote: »

Hey Folks.

So i have some savings lying in a deposit account in the bank. Its not gaining much interest and i feel i could be doing more with my money.

I was just wondering if i should make an appointment with some sort of financial advisor, lay it all on the line with them in terms of what i have and seek some sort of professional direction.

Is this the sensible thing to do ?

If so, can anybody recommend anybody (ideally Dublin City centre) that might be good to speak with, at least for an initial consultation.

If anybody has any other good resources/books in terms of how to get the most from your money then all recommendations are appreciated .

Post all your details on AAM, in the correct forum, and you'll get good advice.